Sodono & Placona Win Favorable Subchapter V Ruling
When it comes to Subchapter V bankruptcy, what do "commercial activities" actually refer to? A recent case handled by MS&B provides fresh clarification on the definition and what it means to be eligible for the relief that bankruptcy can offer.
In the case, the Honorable Elizabeth S. Stong, Bankruptcy Court Judge for the Eastern District of New York, ruled that an individual debtor would remain eligible for Subchapter V despite the objection of the creditor. She considered the broad interpretation of "commercial or business activities" and the debtor's specific situation, allowing her to proceed with the filing thanks to the defense provided by MS&B attorneys, Sari B. Placona, Esq. and Anthony Sodono, III, Esq.
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